Blog
What is Market Recoil and How Does It Affect My Home Purchase?
Market recoil is an economic phenomenon where real estate prices or mortgage rates "snap back" in the opposite direction after being stretched to an extreme, much like a rubber band. In today's market, this often manifests as a sudden cooling of prices or a sharp...
Is Waiting for Lower Rates a Mistake? The Cost of Waiting Explained
What is the "Cost of Waiting" to Buy a Home? In the world of real estate, there’s an old saying: "Don't wait to buy real estate; buy real estate and wait." But for many families in Longview or Tyler, it feels safer to wait for interest rates to drop or for prices to...
Does the Fed Set Mortgage Rates? The Truth for Texas Buyers
How Does the Federal Reserve Affect My Local Mortgage Rate? If you’ve been watching the news lately, you’ve heard a lot about "The Fed." Whenever they meet, headlines claim mortgage rates are about to soar or plummet. But if you’re sitting in an office in Tyler or a...
Rate vs. APR: What’s the Real Cost of Your Mortgage
If you’ve started looking for a home in Longview or Kilgore, you’ve probably seen two different numbers on every mortgage advertisement: the Interest Rate and the APR. It can be incredibly confusing to see a rate advertised at 6.25% only to find an APR of 6.5% in the...
How Do Interest Rates Affect My Buying Power?
If you are looking to buy a home in East Texas right now, you’ve likely noticed that interest rates are the talk of the town. But here’s what most people don’t realize: it’s not just about the "rate" you get; it’s about how much house that rate lets you buy. Quick...
When Should I Refinance My Mortgage (and When Should I Not)?
You should refinance your mortgage when the long-term savings from a lower interest rate, reduced loan term, or the removal of mortgage insurance outweigh the upfront closing costs of the new loan. Conversely, you should avoid refinancing if your "break-even point"...
Should I Buy Down My Interest Rate or Keep the Cash?
By Laura Lea Blanks, Broker Owner NMLS #2031656 Deciding whether to buy down your interest rate or keep the cash depends primarily on your "break-even point"—the number of months it takes for your monthly savings to outweigh the upfront cost of the discount points. If...
How do I remove Private Mortgage Insurance (PMI) from my loan?
How Do I Remove Private Mortgage Insurance (PMI) From My Loan? By Laura Lea Blanks, Broker Owner NMLS #2031656 To remove Private Mortgage Insurance (PMI), you must typically reach 20% equity in your home based on the original purchase price or 25% equity based on a...
Should I use a USDA loan for a home in rural East Texas?
Should I Use a USDA Loan for a Home in Rural East Texas? By Laura Lea Blanks, Broker Owner NMLS #2031656 Using a USDA loan for a home in rural East Texas is an excellent strategy for buyers looking for 100% financing and lower-than-average mortgage insurance costs....
How do I file for my Texas Homestead Exemption?
To file for your Texas Homestead Exemption, you must submit Form 50-114 to your local county appraisal district office. This application can be filed for free by mail, in person, or through your county's online portal—such as the Gregg, Smith, or Rusk County Appraisal...